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. congress is already bracing for its next fight. which is the debt ceiling debate. and the democrats aring sending a clear message. they plan to win that battle and they will not negotiate over the debt ceiling. both house minority leading nancy pelosi, and senate majority leader harry reid today said the president should step in and exert his executive power to win the debt ceiling fight. and senator chuck schumer said that going forward the democrats would be tough in feeling with the obstructionist republicans. >> if they realize for sure that they are not going to have a negotiating partner, they will have to find another route to bring the changes they want. >> jennifer: no negotiations, no partnership, smart thinking but perhaps the most unlikely voice of reason today was former house speaker newt gingrich. he called on house republicans to stop playing politics with the economy. newt gingrich. >> they have got to find in the house a totally new strategy. the whole national financial system is going to come into washington by television and say oh, my god this will be
says he won't negotiate with congress over lifting the debt ceiling. >> i will not play that game. >> reporter: republicans say -- >> the president may not want to have this debate but he will have it because the country needs it. >> reporter: so as they debate over a debate is it a magic bullet to solve the crisis. try a magic coin. some are suggesting a $1 trillion platinum koint could be minted and the government could use that to pay the debt, avoid the fault and preempt the debt ceiling crisis. i'm being absolutely serious. it sounds silly but it's absolutely legal. i spoke to economist. >> why do you think it is a good idea right now? >> well, i think it is better than a government shut down. it is better than defaulting on the debt. it is better than the bad alternatives. >> reporter: and technically it does appear to be legal. the u.s. government can print new money but there is a limit to how much paper money in circulation and rules that at least limit the denominations that gold, silver and copper coins can be but no limit on platinum coins. the president can issue a co
with the new congress on raisg the debt ceiling, but republicans are ready to use it to force major federal spending reforms and tame the national debt. right now, the u.s. owes $16 trillion, but some calculate our total liabilities much higher. and as congress jumps from small deal to small deal as they have been, analysts worry big problems are just getting bigger. >> $60 trillion is a conservative estimate of our unfunded liabilities of medicare social security, and medicaid put together. that's scary. and, the fact of the problem of $2 trillion solutions to $60 trillion problems, you see the occasion of the lack of problem and resolve of the political class here in washington. >> reporter: some also worry the down-to-the-wire theatrics of these fiscal debates in washington will overshadow other issues that need to be addressed, like education and immigration reform. issues that could be held hostage until the spending fights are over. sylvia hall, "n.b.r.," washington. >> tom: other changes could soon be in store for washington: treasury secretary timothy geithner will leave the adminis
with the new congress on raising the debt ceiling, but republicans are ready to use it to force major federal spending reforms and tame the national debt. right now, the u.s. owes $16 trillion, but some calculate our total liabilities much higher. and as congress jumps from small deal to small deal as they have been, analysts worry big problems are just getting bigger. >> $60 trillion is a conservative estimate of our unfunded liabilities of medicare social security, and medicaid put together. that's scary. that's scary. and, the fact of the problem of $2 trillion solutions to $60 $2 trillion solutions to $60 trillion problems, you see the occasion of the lack of problem and resolve of the political class here in washington. >> reporter: some also worry the down-to-the-wire theatrics of these fiscal debates in washington will overshadow other issues that need to be addressed, like education and immigration reform. issues that could be held hostage until the spending fights are over. sylvia hall, "n.b.r.," washington. >> tom: other changes could soon be in store for washington: treasury secr
? >> yeah on spending. >> reporter: it is one, two, three. the budget and then the debt ceiling. all grounds that play to the gop. >> when the president says that he will not negotiate over the debt ceiling that this is money that congress has already spent. pay your bills. is the gop really willing to shoot america's credit rating in the end? >> well is he willing to damage our credit rating to keep spending money that he doesn't have? >> it is a fight that has been going on since the presidency. and they plan to keep fighting. >> one democrat wrote in the newspaper today that when they voted to raise taxes, it rendered their anti-tax pledge. >>> new tonight at 11:00, a maryland woman vacationing in jamaica has died. she was 34-year-old vanessa brown riding in a car that slammed into a minibus. no one on the bus seriously hurt as the crash is under investigation. >>> the high school student is in critical condition tonight as they believe that the 18- year-old was pulled out of the school parking lot and ran smack into the path of the mac truck. four other students were also in the car as t
the president and the debt ceiling. according to the united states constitution, congress is the only branch of government with the power to tax or spend. mitch mcconnell knows this. the debt limit is not part of the constitution. you know what it is? it's a statute from a 1917 law about liberty bonds. according to the statute, well, only congress can raise the debt limit. so if the debt limit is raised, the president can't spend more money, can't do it on his own. we're talking about money that has been borrowed, appropriated and spent by the congress. mcconnell's lie is being spread by other congressional republicans. >> the fact that the president is making unprecedented power grabs for the executive branch and now not only wants the authority to make laws through the rule-making process but wants the opportunity to borrow money in unlimited amounts anytime and anywhere he chooses. >> listen to this republican congressman misunderstand what a blank check is while saying the president has unilateral power over the debt ceiling? >> the president really asked for a blank check here. and when
, and it does get worse. you recall that in december 2011 the 100th of congress in days in the debt ceiling debacle, i was just talking about. the fact of the matter is, that debacle resulted in the first-ever downgrade of this country's credit rating. just a reminder, in three weeks surrounding that fight the dow jones industrials lost, are you ready, 2,000 points on the dow. now, the republicans to attempted to do that again because it would make a point that the president, i'm begging right now, i'm begging you, come up with a different way to make your point and to seize the moment and prevail. be innovative, clever, creative, but don't mess with the debt ceiling. i'm telling -- begging you. to summarize, the legacy is nothing, zero, not. and let it please, there is something of a flashy morning for the 113th congress. please, be wise, careful, thoughtful before we head into another debt ceiling debate which history has taught all of us that you will lose in just about two months. please, be creative, thoughtful. republicans are also warning about what they're going to do about spending
more money in march. congress has the constitutional authority to set our debt ceiling and has agreed to raise it. watch for a big fight as republicans try to institute some sort of fiscal sense that democrats resist. the big events, but there is another one that happened today that congress did not pass a resolution to recognize that happened. you probably already know about it. the payroll tax has expired, and if you get your first paycheck today says the fiscal cliff, well, watch out. you may be shocked by then nearly 50% increase in the tax. the social security withholding tax reset. for middle-class american families earning $50,000, that means at least in $800,000 tax hike, maybe as much as a thousand bucks. if this is the first shot of about, it's not going over too well. here's what people are saying on twitter. if you're asking why my paycheck is less this week, is because you got what you asked for. on it. why is my paycheck bless this we? because obama loves to penalize the makers and redistribute to the takers. it gets worse. on and on and on. my prediction here is there i
another thorny issue this year. president barack obama wants to raise the debt ceiling, that's the limit of how much the federal government can borrow. members of congress need to reach a deal by the end of next month. >>> students who survived a mass shooting at a school in connecticut have endured a rough few weeks. they went back to class for the first time since the attack. about 400 students arrived at an unused junior high school. they are using the building at a neighboring town as their new campus. their old school remains closed. a gunman entered sandy hook elementary last month killing 20 of their school mates and six adults. the attack prompted president barack obama to push for tighter gun control. he suggests he wants to ban assault rifles and strengthen background checks. a recent poll suggests many americans still oppose a ban on the sale of assault rifles. the national rifle association carried weight across capitol hill and many republicans too are against further restrictions. >>> al jazeera has set its sights on one of the world's biggest tv markets, the united states.
and the looming debt ceiling, can the new congress get anything done or are we in store for more fighting? >>> also social media casting a spotlight on this steubenville, ohio, rape case, new details surround willing the case of the two high school football players accused of sexually assaulting a 16-year-old girl and for the first time we have heard from one of the defense attorneys, lls the attorney general of ohio heading up the prosecution will be on. >>> don't mess with texas, well the snow is. we have blizzard conditions shutting down a major interstate and covering the lone star state in powder. >> it is friday, january 4th, "starting point" begins right now. we're missing a chair. it's the two of you. she's out and about, john avlon, senior columnist of "newsweek" and "the daily beast" somewhere in the wings, margaret hoover, the lovely wife of mr. avlon, cnn political contributor who is walking on in. >> dramatic entrance. >> yes, we like it, gorgeous. also, ryan lizza, washington correspondent of "the new yorker." >> also gorgeous. >> like that. >>> superstorm sandy relief is on
to have a debate with congress over raising the debt ceiling and making sure america can pay its bills, but as we saw the last time, that's not really up to the president. >> yeah, now, first thing's first, the house taking up the sandy aid bill today. how is this different than what they've considered before or haven't considered before? >> well, the thing is the senate already passed a bill. what the house is doing is breaking it into two pieces. after they reached that big deal to avert the fiscal cliff, postpone it, really, a lot of house republicans, especially from new york and new jersey, were angry the speaker did not put on the floor a vote for sandy aid for these relief victims. they're going to vote later this morning on a bill. about $9 billion for the national flood insurance program. that's to be able to give money to that program so it doesn't run out. fema has said that money would run out starting next week at some point. the idea is to vote on that today and then on january 15th they'll vote on another $51 billion in general aid. so today's the first of two votes. >>
really believed in free markets, when it we just not have a debt ceiling? you'll not be able to borrow more money, interest rates will shoot up. why do we need a limit? >> as far as principals, we do not. congress wants to have a say in their overall issue of that. we already have evidence that it is too high. countries at our level of debt grow more slowly. that is not doubt and that is what the president needs to focus on. connell: our point here is that we talked about this a number of times, they will get their act together in washington when they are forced to. they will say -- when interest rates shoot up to a level that hurts us, then, they will cut spending. this debt limit negotiation comes up every so often and creates all this nonsense and drama. we know they will raise the debt limit at the end of this, they always do. >> and they should, quite frankly. somewhere between january and august of this year, it is imperative that this country take a different course and entitlement spending programs. the numbers add up to something that is unsustainable. the u.s. needs to get th
of the so-called fiscal cliff. the new congress faces another looming showdown over the debt ceiling and possible spending cuts delayed under the fiscal cliff deal. john boehner addressed the debt thursday in his opening speech. >> as speaker, i pledge to listen and to do all i can to help all of you carry out your oath of office that we are all about to take. because in our hearts we know it is wrong to pass this debt onto our kids and grandkids, now we have to be willing, truly willing to make this problem right. >> house speaker john boehner faced a massive backlashes week after initially canceling a vote on relief for superstorm sandy. the house is expected to vote on the first round of aid today. gun-control advocates introduced legislation on the first day of the new congress to ban high- capacity ammunition magazines in recent -- used in recent massacres including the one at sandy hook last month. carolyn mccarthy of new york said the assault magazines help put the mass in that shooting and anything we can do to stop their proliferation will save lives in america. she lost her
in on their agenda... old ver.but - problems. with the looming debt ceiling crisis, lawmmkers cut spending, which as proved not to be an asy task with partisan politics at ppay. the new year we'll focus on is seeing if we can put a paccage little bit less drama, a - little bit less brinksmanship. this coogresssincludes the fiist openlyygayyseeatorrann the first openly bi-sexual member from either also ncludes a record number of women - 20 in tte senate and 81 in the house. the new congress is scheduled to vote todayy.. on aid foo viccims of superstorm sandy. the house is expected to billion-dollar measure... to pay for flood insurance claims. some lawmaaers say the mooey is urgently needed for storm victtms... who have been awaiting claim checkk sincc this was the scene thursday... as earry 4-hundred sandy hook sttdents resumed class.tte siteeof the shooting is still part of an ongoing investigation... so former middle school in nearby town was re-puuposed... and reeamed students a sense of familiarity... desks and otter oojects were bbought to their new school. a number of &pp
on things like raising the country's borrowing limit, the debt ceiling, and dealing with spending cuts that could include negotiations over programs like medicare. lester? >> all right, kelly, thanks. >>> one new member of congress, the junior senator from the state of maine, is already making a name for himself. tom brokaw is here tonight with more on a man who says he wants to do the people's business in a better way than we've seen lately. hi, tom. >> lester, we don't often think of maine and royalty in the same sentence. but tonight i am reporting on the king of maine. that would be angus king, near republican or democrat, officially independent. a former two-term governor, he promised a new approach. and it paid off. >> i do. >> my favorite line from the campaign is a guy up north who said "all my life i've wanted a chance to vote for none of the above and you're it." >> it's been difficult to envision this day when i would be saying farewell -- >> reporter: king is replacing olympia snow, a respected republican senator who quit in frustration over washington's deadlocked ways. >>
business on wall street. republicans are vowing to use the debt ceiling vote as leverage in an attempt to get severe cuts on federal spending and entitlement programs. president obama has said he has no plans to negotiate the debt limit with congress, leaving america back on the brink. juli neimann of smith moore and company is on the line with us with some thoughts on that. good morning. what will that mean for money managers? "this should be nothing more than a procedural vote, and if they don't go along with it and pull the stunt that they did in 2011, this really could throw the debt market into a problem. the big problem is the federal reserve is completely out of ammunition, so we are looking at a situation where if they are not in there supporting interest rates, you are going to see the market react and probably react badly. so investors and advisors could be in a rising interest rate environment before it really is due." thanks, juli. from new jersey northward, there's plenty of people hoping the newly-elected members of the house respond to disaster relief better than their o
to come, eyeing the debt ceiling. senator lamar alexander calling on congress to focus on entitlement reform. he speaks to us about the costly growth of government programs, and his plan to fix it. that interview is next, right here on "squawk box." this is $100,000. we asked total strangers to watch it for us. thank you so much. i appreciate it. i'll be right back. they didn't take a dime. how much in fees does your bank take to watch your money? if your bank takes more money than a stranger, you need an ally. ally bank. your money needs an ally. tdd#: 1-800-345-2550 when i'm trading, i'm totally focused. tdd#: 1-800-345-2550 tdd#: 1-800-345-2550 and the streetsmart edge trading platform from charles schwab... tdd#: 1-800-345-2550 gives me tools that help me find opportunities more easily. tdd#: 1-800-345-2550 i can even access it from the cloud and trade on any computer. tdd#: 1-800-345-2550 and with schwab mobile, tdd#: 1-800-345-2550 i can focus on trading anyplace, anytime. tdd#: 1-800-345-2550 until i choose to focus on something else. tdd#: 1-800-345-2550 all this with no trade
ceiling. house speaker john boehner, who was re-elected, despite rebellion, says he hopes the new congress will rise to meet the country's extraordinary challenges. rob and paula? >> time will tell. should be interesting. tahman bradley in washington. thanks, tahman. >>> and there was a moment of bipartisanship, believe it or not. dozens of democrats and republicans, cheering on illinois senator, mark kirk. nearly a year after suffering a major stroke, kirk made the slow climb to the front door of the senate, with a little help from the v.p. and another colleague. he conquered all 45 steps. we'll look at some of the other memorable moments, coming up in just a minute. >>> and a special visitor comes to newtown, connecticut, today. former congresswoman, gabby giffords, is meeting with families of the 26 school attack victims. meantime, the school's children head back to class for their second day today in a new building, amid very tight security. abc's amy robach reports. >> reporter: officials say the buses were packed, and attendance was high, as nearly 500 sandy hook students returned to
? >> jumping off the fiscal cliff is nothing compared to blowing through the debt ceiling. here is why. the fiscal cliff was something created out of congress. it was sort of a manufactured crisis. now, the debt ceiling is for real. we come up against a borrowing limit and the government has to stop paying bills and it is a blunt instrument. i don't think either side wants to blow through the debt ceiling. i think we have to take a little bit of this blusterer with a grain of salt. what we want to take away from this whole period of time. when the government cuts spending it has a negative impact on growth. in the short run it hurts growth. if you look over in europe and austerity measures and governments pull back not so good for economic growth. when we say we want to fix the debt and deficit we have to be careful how soon and how quickly it occurs. >> kind of like after the holidays when you are feeling a little heavy you have to keep eating but you have to be a little more careful. >>> so jill gave us that news. i have other news for you, too. republicans attacking their own after
that the republicans in the 113th congress will use the threat of not going along with a rise in the debt ceiling as a way of extracting more concessions with regard to spending cuts. some of the spending cuts, as i said, particularly with regard to infrastructure and safety net programs, programs for the poor, are very critical for the future. >> brown: doug holtz-eakin, i guess there's consensus there's more to come, right? >> no question, we got a mixed bag. it got us past theliff and the biggest thing is addition by subtraction. we have a recession, that's the best news. for 98% of the taxpayers it gave them a permanent current tax law and took uncertainty out. but from another perspective it wasn't very brave. in the end we taxed rich people to spend on the current programs and we kicked down the road cutting any new ones so it really wasn't a solution to the debt and it was not a great solution to avoiding a recession. >> pelley: so you start us looking -- picking up on looking forward where robert reich started already and so did maya. but the debt issues, the debt limit issue, that's the
as congress to production before we can have agreement to raise the debt ceiling. host: i could be the entire piece by eugene robinson, but i will share the first sentence. critical.s clearly i understand that solutions by nature are imperfect. but the reality is we have got to do these things that we are talking about. we need to do it in a thoughtful, open, transparent way, not. at the last not i think that is what he's referring to. when you do it up against these deadlines, a way to do business. we talked about it earlier. i hope that running into the deadline on the fiscal cliff is something that congress will take into account as we work on the debt ceiling agreement and that we can get it done before the deadline. remember, you have talked about how president obama, speaker boehner will approach these things, we've got to have people talking to each other and we've got to get to solutions before the 11th hour to avoid that. that is absolutely what we can do. host: we agreed to the debt ceiling limit, 16 $0.40 trillion -- $16.4 trillion, up in the last hours. guest: the treasury has som
.s. is set to hit the debt ceiling in about two months and the big question will the new congress do better with deadlines than the old once. i will give you an answer and my next guest is cautiously optimistic. here is allison frazier, from the heritage foundation. allison, thanks for joining us. you're cautiously optimistic. what the heck is that based on because i don't think there is any optimism when you're talking about congress? >> i think we have a breathe a little sigh of relief we made it through the fiscal cliff and very disappointed we had a major tax hike and we didn't go over the cliff and nothing really, really bad happened. i totally does agree on the need for the tax hike. the simple fact that obama campaigned on it. he campaigned on a balanced approach. he got it. he got his tax hike. it is time to close the books on that. and what he now must deliver is the balance to his balanced approach in the form of spending cuts. that is why i am cautiously optimistic we will have some progress on that. ashley: you know, that is interesting because during the tax hike debate there w
effect in two months and the policies default of the government when we reach the debt ceiling. >> house speaker boehner who was reemelected to house speaker despite rebellion among some conservatives hopes the congress can rise to meet the exceptional challenges. >> before you go, the first vote provides resources for flood insurance but that is just a small piece, right? the prosecute of the relief, what about that? >> the speak speaker says congress will take that up january 15, he wants to make a downpayment on some of the money and come back with another vote in a couple of weeks. >> thank you for that report. >> federally mandated improvement project shuts down a runway at san francisco international airport for three weekends this month. it will cut the hourly number of flights in half. it could result in delays for delights in a two hour radius of the airport. crews will install upgrades including new lighting systems and navigation aids. the first closure begins next friday. >> we have not seen so many delays because of weather, right, because it has been clear and dry. >> the c
months and the possible the fault of the government when the country to the debt ceiling. house speaker john boehner, despite rebellion g some conservatives, says that he hopes the new congress rise to meet the country's extraordinary challenges. tahman bradley, abc news, washington. >> 33 degrees on this friday morning. >> still ahead, if you thought favorite singer could hold a note. until you hear one of you were singing "hail to the redskins." >> and a decision on whether redskins." >> and a decision on whether -- google fav man: at turbotax, we know this is more than a paycheck. we know all the hammering, dg,ving, writing, nursing, and teaching it took to earn it. so we give you the power to keep as much of your hard-earned money as possible. our customized interview covers everything from a service member's deployment, to a student's loan interest, right down to a teacher's crayons. you've worked hard to earn your money. we're here to help you keep it. turbot t-- the power to keep what's yours. try it free at haaaaaaaaaaaaaaaaaaaaa ail e]olding a not to the redskins
and it is all about the looming fights in congress over the spending cuts and the debt ceiling, they'll make for a couple volatile months for the market in january and february, ashleigh. >> okay, alison, thanks very much. have a good weekend. >> you, too. as you can see, geico's customer satisfaction is at 97%. mmmm tasty. and cut! very good. people are always asking me how we make these geico adverts. so we're taking you behind the scenes. this coffee cup, for example, is computer animated. it's not real. geico's customer satisfaction is quite real though. this computer-animated coffee tastes dreadful. geico. 15 minutes could save you 15 % or more on car insurance. someone get me a latte will ya, please? and i'm here to tell homeowners that are 62 and older about a great way to live a better retirement. it's called a reverse mortgage. [ male announcer ] call right now to receive your free dvd and booklet with no obligation. it answers questions like how a reverse mortgage works, how much you qualify for, the ways to receive your money, and more. plus, when you call now, you'll get th
. this will kill us. >> the question is, if we went over the cliff or didn't fail to raise the debt ceiling, certainly there would be dire consequences. the question is, when else is the congress of the united states going to do anything proactively about spending? they have proven definitively over the last 70 years that they cannot do it. and this has become, for better or for worse, the pivot point. the demarkation, the line in the sand, president obama says, is he not going to tolerate a debt ceiling fight but the truth is, it doesn't matter whether he's going to tolerate it or not. >> it's not for better or worse, margaret, and you know that. you know it's absolutely for worse. >> is getting our spending under control for worse, though? >> the idea that you would allow us to default is outrageous. and there's no way to even kind of deal with that and to argue that as a legitimate point. >> but do you think arguing that we go off the cliff might be a secure deal? >> you do have the sequester. you may have a budget. i'm not saying you don't have a fight. i'm not saying you p don't have a
the debt ceiling, and almost went over the fiscal cliff. all crises of their own making. ezra klein is also an msnbc political analyst and "washington post" columnist. robert costa is the washington editor at national review and a cnbc contributor. gentlemen, the 112th congress was not only unproductive, it was hugely unpopular. for comparison's sake, the irs, nixon during watergate and bp during the oil spill all had higher popularity ratings than this congress, and yet, ezra klein, if the objective was to thwart all things obama, you could say they were immensely successful. >> and yet they weren't because the overarching strategy was to eventually thwart obama himself, to get him not re-elected, to allow mitt romney or whoever was the republican nominee for president, to become president in 2012 thus fulfilling what senate minority leader mitch mcconnell once referred to as his top priority. that didn't work at all. the republican brand was so tarnished in part because of the actions of the 112th congress, in part because of the way republicans acted around things like the debt ceiling,
the first few months, lawmakers face a looming government shutdown and battle over the debt ceiling and automatic spending cuts. former republican congressman jim nussle says this new crop has a tough job. >> what just happened with the debt and the deficit and the taxes, that doesn't go away. >> reporter: democrats still control the senate. and republicans the house with the same leaders returning. >> we're sent here not to be something but to do something. [ applause ] >> reporter: kildee says he's up for the job. >> while it's daunting, this is what i'm ready for. i'm here to work. >> reporter: his first major vote will be friday when the house takes up part of the superstorm sandy relief package. danielle nottingham, cbs news, washington. >>> and hillary clinton plans to return to work next week to finish out her term as secretary of state. she was released yesterday from a new york hospital where she was being treated for a blood clot. it was the latest in a string of medical problems that sidelined the nation's top diplomat for nearly a month. her doctors expect her to make a
with congress on real solution and coming up agreement on debt ceiling is a huge part of that and it goes exactly what we have to do. if you look at simpson-bowls and ideas to address our debt and get our economy back on track, it involves not only progrowth tax reform but it also involves entitlement reform and balancing budget and controlling spending. all of those things go into addressing the debt limit the right way. the president has to be a big part working on that. host: has he been a leader? is the president is leader? guest: he needs to be more engaged and he needs to work with congress in a very hope way and he has to tell not only congress but the people of this great country exactly what he believes the right plan is to reduce spending, to reform entitlements and to join us and put those things in place. host: let me go back to what senator mcconnell said and put specifics to these words. he said, we simply cannot increase the nation's borrowing limit without committing to long overdue reforms to spending programs that are the very cause of our debt. guest: i think that's wha
't think congress wants to cut, except for maybe a handful. then you have the debt ceiling bill which runs smack into a government shutdown potential. those are the -- those are the big issues coming up in january and february. what do you want boehner to do? is it right for your and caucus that boehner stay out of the negotiations with obama? that's what he pledged. he wanted to pick up conservative votes as bob costa said. is that what you want him to do? >> well, that's his decision. what i want to make sure we do is if he does go into negotiations, this is critical for any negotiation, you have to be willing to walk away from the table. and then you can start moving things in a more conservative direction. and we can start controlling spending. look, we can raise the debt ceiling, not raise the debt ceiling. our credit rating will get downgraded. what we have to do if we want to do the right thing for our country is control spending that's what i ran on. that's what i'm intending to do representing the first district of oklahoma. >> all right. how about no more tax hikes in the house?
with a ticking clock on sequester and on the debt ceiling we've got to continue to talk about budget and physical soundness. >> reporter: during the campaign you expressed confidence you could reach across the aisle, but a majority of republicans on the house side did not vote for the compromise. >> it is true a majority didn't, but 80 did and we haven't been seeing those kinds of votes coming out of the house. i viewed that as positive. >> reporter: virginia remains a peculiar swing state, although most house members from the commonwealth are republican. in statewide u.s. senate races voters have again chosen two democrats, tim kaine and mark warner. john henrehan, fox 5 news. >>> if you're traveling to the van can any time soon and want -- vatican any time soon and want to buy souvenirs, bring cash. the bank of italy says the vatican hasn't complied with european safeguards on money laundering and many tourists have been caught by surprise. >> a lot of tourists don't have the cash on hand, will have to go get euro. >> the vatican reportedly is trying to improve ways to fight money laundering
to business addressing a variety of contentious issues including the debt ceiling and the sequester. in washington jennifer davis, fox news. >>> here we go, the redskins take the field sunday against seattle. cornerback d'angelo hall will not have to worry about running into that ref who talked him out of a game earlier this season. headlinesman dana kinsey was set to be assign to the skins/seahawks game. you may remember this one. mckenzie got into a heated exchange when the redskins played pittsburgh in october. mckenzie ejected hall from the game. meantime the team continues to prepare for the seahawks and one of the team's coaches is getting some buzz around the league. >> while redskins fans enjoy their first division championship since 1999 and a home playoff game in sunday, seven head football coaches and five general managers were fired this week in the nfl. when that happens, names of potential candidates get thrown into the ring as replacements. one of the names mentioned was skins offensive coordinator kyle shanahan. kyle has been instrumental in the rise of robert griffi
few months, lawmakers face a looming government shutdown and battle over the debt ceiling and automatic spending cuts. former republican congressman jim nussle says this new crop has a tough job. >> what just happened with the debt and the deficit and the taxes, that doesn't go away. >> reporter: democrats still control the senate. and republicans the house with the same leaders returning. >> we're sent here not to be something but to do something. [ applause ] >> reporter: kildee says he's up for the job. >> while it's daunting, this is what i'm ready for. i'm here to work. >> reporter: his first major vote will be friday when the house takes up part of the superstorm sandy relief package. danielle nottingham, cbs news, washington. >>> did you change something? >> drivers with one thing in common. how the dmv says they make our streets more deadly. >> is tuition going up all the time? why some california students might be able to pay a flat rate for a college degree. ,,,,,,,,,,,,,, driving. the research released todayy th shows men >>> here is something that may startle
: fights over the sequester and the debt ceiling coming around march first. and as sylvia hall reports, there are low expectations lawmakers can get the job done
solution to saving our economy from the upcoming debt ceiling fight. you'll be shocked to find out what it is. that's later on the "closing bell." mine was earned off vietnam in 1968. over the south pacific in 1943. i got mine in iraq, 2003. usaa auto insurance is often handed down from generation to generation. because it offers a superior level of protection, and because usaa's commitment to serve the military, veterans and their families is without equal. begin your legacy, get an auto insurance quote. usaa. we know what it means to serve. >>> gold really losing its shine falling for the sixth straight week, a move accelerated where the fed may be easing on the pump sooner than expected. sharon epperson is at the nymex with the details. sharon? >> reporter: quite a day and quite a week for gold prices. we saw gold fall to a low of 1626 an ounce in the session, but it's recovered nicely, up about 30 bucks of the lows of the day, but keep in mind as traders are rebalancing perhaps their positions and looking at other asset classes, we have seen a lot of fluctuations in the gold market.
in the budget control act. >> reporter: raising the debt ceiling in the next few weeks will be another showdown. house speaker boehner told the republican conference friday he'll use that as leverage for more spending cuts. >> that will definitely be a battle between house speaker boehner and president obama. president obama has already said he's not getting into that debate. jennifer johnson, capitol hill, news4. >>> a water-rich meteorite helped researchers prove that there could be life on mars. the rock, which was formed 2.1 billion years ago has ten times more water than any other martian meteorite. it's been nicknamed black butty and weigh being 11 ounces. >>> the parking lout -- that shows you the tail gaiters there, four hours before the game. this week will be a great day. if you're thinking about heads out this evening, you will need the colts. it's been blowing toward the north all day long, but starting to move into the rest of the region. we're starting to see windchills really dropping. 46 was the high, above the average high of 43. that coming after a low of 27 this morning. the
the debt ceiling. >> reporter: in late february they will exhaust as measures to avoid the fiscal cut. in march out spending cuts take effect. and later the congressional f d funding resolution currently funding the government expires. they don't plan to say anything more about the timing of geithner's departure until after his successor is nominated. now, the leading candidate to replace geithner is white house chief of staff jack lew who was the former director of the office of management and budget. white house sources tells cbs news that the white house hasn't made that decision yet and he's likely to make other cabinet announcements first. >> thank you. let's bring in chief washington correspondent and host of "face the nation" bob schieffer. good morning. >> good morning, norah. >> we just heard about geithner leaving as treasury secretary and all the fiscal fights ahead of us. how does that affect things? >> i think that's going to make it harder if that's possible. geithner will not be there. there will be arguments over fiscal policy that will weigh in to the confirmation of
, a lot of the big ones. so, and again, there's big ones coming up. debt ceiling, federal spending, sequester. you thought it was over, it's not over. >> this head of hair will be completely gray. so will yours, i'm sure. >> so will mine. >> any rising stars in this new congress? >> sure. everyone always talks about who will be the next, who is going to replace boehner. nobody wants his job. eric cantor. who wants his job? nobody. yes, there are rising stars, but nobody wants that job yet. >> mike, thank you so much. >> thank you. >> tony, over to you. >>> thank you both. still ahead this hour, proposal worthy of the stars. it's 7:40. we'll be right back.  >>> you could say the force is strong with this couple. after six years of dating, star wars creator george lucas has asked his girlfriend for her hand in marriage. she is a chairman at dreamworks animation, and the president of a big investment firm. it will be the second marriage for the 68-year-old director. >> you. i know melody from my time at "good morning america." she used to come in and give financial advice and all t
the political crises where we go into another debt ceiling crisis, it is possible it could still be derailed. if there is not a giant political crisis, there should be good reason to think that jobs will pick up in 2013. host: marilyn geewax, sr. business editor for npr. our line for unemployed. caller: do you think that allowing companies -- i know the government cannot do much in a way of drafting policy or legislation that prevents companies from using a background checks and credit history do not hire people -- i will be honest with you. in our current situation, maybe doing something in the way of incentivizing companies to hire people with these histories, wouldn't that help to bring these unemployment numbers up? guest: you have touched on a big issue here. there are a lot of people -- we have got 3.6 million job openings right now. there are lots of jobs that could be filled, if people have the right training or the right resumes. let's say that your credit history is bad. that works against you. they cannot get into these millions of open jobs because of things that happened in the
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